University of Iowa News Release
June 23, 2005
Wellmark Blue Cross And Blue Shield And UI Health Care Reach Agreement
Wellmark Blue Cross and Blue Shield of Iowa and University of Iowa Health Care have reached an agreement and have issued the following joint statement:
Over the past several months, our organizations have learned a great deal about each other as we have shared information, analyzed data, and participated in candid discussions. We are pleased to announce that we have come to an agreement that will serve the interests of the people of Iowa, especially the members of Wellmark Blue Cross and Blue Shield and the patients of University of Iowa Health Care.
For the upcoming fiscal year 2005-06, Wellmark will pay UI Health Care incremental reimbursement of approximately $8.6 million as part of its annual payment update factor for all Iowa hospitals and physicians participating in the Universal Agreement, which includes an inflation factor for new health care technology. The actual amount depends on the total volume of services provided to Wellmark members receiving care from UI Health Care.
UI Health Care has signed Wellmark's standard Universal Agreement. As part of the agreement, UI Health Care will be represented on Wellmark advisory groups, which include Iowa physicians and financial officers who will investigate future innovative methods of health care reimbursement.
Our contract discussions have brought to the forefront some of the critical issues facing consumers, providers of health care, and insurers. We are pleased to continue working together to serve the needs of Iowans now and in the future.
STORY SOURCE: University Relations, 101 Jessup Hall, Iowa City, Iowa 52242.